12/18/2013
Number of firms regulated by FCA set to rise in new year
The Financial Conduct Authority is set to see the number of firms it regulates double in 2014.
Legal, Regulation & Compliance
12/17/2013
Modernising risk in the modern bank By Graeme Wood, Specialist in Operational Risk and Process, Rule Financial
The good news is that firms who do invest in mitigating potential future problems will dramatically reduce the likelihood of their involvement in the next Investment Banking scandal.
12/17/2013
Ex-UBS Trader Hayes Pleads Not Guilty in First Libor Prosecution
Tom Hayes, the former UBS AG and Citigroup Inc. trader, pleaded not guilty to conspiring to manipulate Libor in the first prosecution stemming from a global investigation into rate rigging. Two former RP Martin Holdings Ltd. brokers, Terry Farr and James
12/17/2013
FCA bans former derivatives trader
The Upper Tribunal has directed the Financial Conduct Authority to ban former derivatives trader David John Hobbs from performing any role in regulated financial services.
12/17/2013
FCA bans four for 'disgraceful' failings in relation to occupational pension schemes
Three men have been banned from working in the financial services industry by the Financial Conduct Authority
12/17/2013
Appleby Reports Offshore Incorporation Activity For The First Half Of 2013
The number of new incorporations across the whole offshore region has fallen slightly compared with the previous six-month period but as the number of firms ceasing to trade has also dropped, this has allowed most registries to continue to grow. Many are
12/16/2013
Capital requirements for banks' equity investments in funds - final standard
The framework will be applicable to all banks, irrespective of whether they apply the Basel framework's Standardised Approach or an Internal Ratings-Based (IRB) approach for credit risk.
12/16/2013
UBS 'not responsible' to shareholders in rogue trader claim
US shareholders, including two New York based pension funds, claimed UBS officials and then-chief executive Oswald Gruebel had misled investors by frequently touting the bank’s internal controls prior to Adoboli’s fictious trades being reveale
12/16/2013
Partners at KPMG see 23 Per Cent Rise in Pay
Partners at KPMG have seen their earnings soar to £713,000 each on average
12/16/2013
Wealth Management Association wins EU battle over MiFIR trading reg
The WMA says this would have meant the effective termination of the UK’s Retail Service Provider system, which facilitates cost-effective and safe share trading for around 20 million transactions per year for private clients, trusts and charities.
12/15/2013
Russian Regulator Shuts Three More Banks in Clean-Up Drive
Moscow. Russia’s financial regulator revoked the banking licenses of three mid-sized banks Friday as the authorities expand a banking sector crackdown
12/15/2013
‘Democratic’ crowdfunding under threat
Reaching the “crowd” via the internet was first used by music bands in the US more than a decade ago as a way of raising finance in return for rewards such as albums.
12/15/2013
Standard Chartered forced by Bank to strip top exec of risk role
The Bank of England has taken unprecedented action to strip a senior banker of key responsibilities due to concerns over potential conflicts.
12/13/2013
GLG Fined $9m for Overvaluing Stake
Hedge fund GLG is said to have overvalued the stake it held in a coal mining company by 60pc for two years
12/13/2013
Finance watchdog approves Vatican reforms, urges bank oversight
It advocates stronger controls on the Vatican's bank - whose main purpose is to provide financial services for Vatican employees and religious groups - and another financial office.
12/13/2013
Tribunal claims fall following introduction of fees
Figures published by the Ministry of Justice taken from the period July to September 2013 also showed a significant 42% decrease in unfair dismissal claims.
12/12/2013
AIFMD - The Burden and the Maitland Solution
The Alternative Investment Fund Managers Directive entered into force on 22 July 2013
12/12/2013
Governance & Stewardship Principles and Policy Guidelines Strengthened at Standard Life Investments
In addition, specific reference is made to Standard Life Investments’ support for arrangements that would require directors and senior executives to retain an appropriate proportion of the shares they own after they leave a company.
12/12/2013
Former B&B Group Finance Director fined £30,000 for failings ahead of 2008 rights issue
On 16 May 2008, Willford received information that suggested that B&B’s financial outlook might be weaker than expected
12/12/2013
One Arrested in FCA Insider Dealing Investigation
The Financial Conduct Authority with the assistance of the North Yorkshire and West Yorkshire Police has this morning executed a search warrant in Harrogate.